- 82 views
Simplefinance a Russian fast growing lender
SimpleFinance is a fast growing fintech lender, founded in 2015 and offers several financing tools for small and medium-sized businesses (SMBs) in Russia.
”Around two years ago I came up with the idea to create a modern micro finance company… to meet the needs of the clients, those being what you would call SME sized businesses. I researched to determine which products would fit the experienced problems of this sector…in terms of raising finance and borrowing money.” Alexey Basenko, CEO of SimpleFinance said in an interview with thefintechtimes.com
Basenko has experience working in fintech companies and banks for more than 10 years, including significant experience with top market-leading companies as well as expertise in SMB lending, mortgage, asset-based lending, private loans, and financial consulting.
The Moscow-based company specialising in accessible micro-lending offers:
Tender financing: loans for tender applications and loans for the execution of government contracts
Factoring: liquidity financing backed by accounts receivable
Asset-based loans: for general purpose secured by residential or commercial property and real estate for a period of up to 10 years
Cash-flow loans (unsecured loans): working capital financing of up to RUB 3 million rubles (approximately $50,000).
In addition, the company has built its own P2P- loan platform, called SimplyFi, where small and medium-sized businesses can raise funds directly from private investors. SimpleFinance’s platform supports fully electronic document processing and online-only customer interactions.
Simplefinance, which is already profitable and self-financing, is licensed by the Central Bank of Russia and is a member of the Association of Factoring Companies and RusProdSoyuz.